Explanation for today's boom?

[BittBurger]

Someone was going to make the thread, but this time I am genuinely curious, so I made it.  Someone commented that China is not at play right now, and that serious money is pouring in, but mostly from Europe and the Americas.  Are you guys able to see that on the exchanges somehow? 

When the price is this high, part of me believes this is governments buying in or something ... thoughts?

[humanitee]

Loaded. 

[Hawker]

Bitcoin is still in the paperclip budget range.  A government buyer would push it to 5 figures as they buy by the $1 million.

[beaconpcguru]

Its recycled funds.  There are big players in here.  If you had 100,000 coins and had the motivation to do so, what would you do and how would you work a system where the average holder is in the hundreds.  

[lucas.sev]

900 got broken, people think that once 900 gets broken other people will buy so they buy, price goes up, other people buy

[Painful Truth]

people are slowly waking up. and some of them with deep pockets.

[Okurkabinladin]

Do you realize there were (and still are) tons of fiat on sideways already within exchanges? With more on the way, usually game changing news (like halving of mining rewards last year) take effect on market only after a week or two.

After several days of consolidation there were really only two ways this could go  

[Painful Truth]

When the price is this high, part of me believes this is governments buying in or something ... thoughts?

Also why do you believe that governments buy now that the price is high? Do they like buying high? 

[kireinaha]

900 got broken, people think that once 900 gets broken other people will buy so they buy, price goes up, other people buy

+1 This. I don`t think there has to be any sophisticated reason or logic behind it.

[sgbett]

When the price is this high, part of me believes this is governments buying in or something ... thoughts?

Also why do you believe that governments buy now that the price is high? Do they like buying high? 

What price would you consider to be high for an organisation that can print money?

[sgbett]

bonus question for 2 points:

How worthwhile in the long term is it trading bitcoin for fiat, when fiat is being devalued at an alarming rate?

(disclaimer: i've took a few dollars out here and there to pay a few bills, but long term I am holding as tight as I can)

[BittBurger]

Something is up.

You don't just go "horizontal" for several days and then, almost on a dime at 12 noon eastern standard time, the price starts jumping $5 every ten minutes.

Goes up almost exactly $100, Lasts for about 3 hours ... then stops on a dime.

Something happened.

[porcupine87]

I'm more curious why all the alt coins won so much the last 48hours. Nearly every seond coin made 100%. http://coinmarketcap.com/

[exstasie]

When the price is this high, part of me believes this is governments buying in or something ... thoughts?

Also why do you believe that governments buy now that the price is high? Do they like buying high? 

Why do you think the price is high?  Do you think that $900 is an overvalued price for BTC?  If not, then you'll buy above $900.  If so, you'll sell them.  It's all based on speculation.  obviously those buying now think its worth a lot more than $900, which I do too.

[byronbb]

Something is up.

You don't just go "horizontal" for several days and then, almost on a dime at 12 noon eastern standard time, the price starts jumping $5 every ten minutes.

Goes up almost exactly $100, Lasts for about 3 hours ... then stops on a dime.

Something happened.

Must be rigged, like every NFL game someone lost money wagering on.

[PenAndPaper]

You don't just go "horizontal" for several days and then, almost on a dime at 12 noon eastern standard time, the price starts jumping $5 every ten minutes.

I think you are trying hard to see a conspiracy here. Maybe the price is being manipulated in some extent but not from the government.  
Don't make me wear the tinfoil hat again  

[BitcoinAshley]

Cuz supply and demand.

I made more on alt-coins today and yesterday than on Bitcoin. What gives? Namecoin up to $6+, that's past what LTC's ATH was until this month. LTC up to $19+? WTF Even FEATHER COIN, that's right, fucking FEATHER COIN, is doing well. I think people are just treating the more popular alt-coins as just extensions of bitcoins.

[BittBurger]

I'm not claiming it's the government. I was just trying to think of an organization that has a lot of money. You have to admit, absolutely nothing happening for five days and then all of a sudden, on a dime, everything explodes. There's always a reason. Maybe was just another infomercial in China that 40,000 people happen to see at the same time. Maybe it was an article in Europe stating that a new chain of restaurants is accepting bitcoin. I don't know what it was, but it was something. The timing was too specific.

[Crazy]

Don't underestimate how quickly a fool will part with his/her money.

[BittBurger]

Cuz supply and demand.

I made more on alt-coins today and yesterday than on Bitcoin. What gives? Namecoin up to $6+, that's past what LTC's ATH was until this month. LTC up to $19+? WTF Even FEATHER COIN, that's right, fucking FEATHER COIN, is doing well. I think people are just treating the more popular alt-coins as just extensions of bitcoins.

I'm really hoping that China and others realize that each alt coin is an opportunity for speculation and investment, and return. There could be a very long, long period ahead of insane moneymaking for all of us if that's the case. Bitcoin is the only one that really needs to succeed anyways. The rest can be for speculators. This could be the new stockmarket where millions of people get rich. If they get in early enough.